TVS Motors, one of India's largest two-wheeler maker, has entered the three-wheeler business with the launch of 200 cc autorickshaw 'TVS King' in Kerala.
KOCHI: TVS Motors, one of India's largest two-wheeler maker, has entered the three-wheeler business with the launch of 200 cc autorickshaw 'TVS King' in Kerala on Friday.
Speaking to mediapersons here, TVS Group Head, Marketing, Three-wheeler, K Srinivasan said the product would initially be available for sale in Kollam and Kottayam districts of Kerala and the company will expand its footprint to other markets in Kerala in the next three months.
TVS King is a futuristic product with a good combination of power, style, comfort and mileage and is designed for today's cities, he said, adding the three-wheeler launched in LPG and Petrol versions, would be India's first 200 cc two stroke 'electric start'.
TVS Motor has invested over Rs 120 crore with a state-of-art manufacturing plant in Tamil Nadu's Hosur, with an installed capacity of one lakh vehicles per annum, he said.
The company was targeting a sale of 25,000 vehicles nationally during 2008-09, he said, adding it had plans to sell about 2,000 vehicles in the first year in Kerala.
Srinivasan said they have already launched TVS King in Tamil Nadu and Hyderabad where the response was very encouraging.
The company has plans to launch the vehicle in Northern India during October/November this year, Srinivasan said.
The ex-show room price for the hand start version was Rs 90,394 and for two stroke petrol with electric start Rs 94,394, he said, adding the price for two stroke LPG with electric start was Rs 1.10 lakh.
Srinivasan said Kottayam and Kollam are the two largest markets in kerala for autorickshaws and that was the reason for launching the vehicle initially in these two districts.
On the high prices of the autorickshaws compared to other market players, he said "we give more value to the customers. It is India's first 200 cc in two stroke electric start," he said.
The standard accessories the vehicle has include water bottle holder, magazine holder and 'attractive' gas kit cover in LPG and CNG vehicles, he said. Optional accessories include 'stylish' wheel covers, FM radio and a digital clock.
The company would offer all TVS King owners a one year free Tailor Made Personal Accident and Health Care Insurance Policy. TVS Motor has tied up with reputed insurance companies for the same, he said.
"The insurance policy will cover the owner and his family against medical care up to Rs 30,000 per annum on a floater basis. The owner will additionally be covered by a personal accident policy for Rs 1 lakh," he said.
TVS would leverage its existing extensive distribution and service network in India and more than 50 countries abroad to market and provide superior customer experience in sales and service, Srinivasan said.
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